Franklin Templeton Takes Its Tokenized Treasury Fund FOBXX to Coinbase’s Base, Becomes First Asset Manager on the Layer 2 Blockchain

The layer 2, which went live in 2022, represented a big step in the evolution of Coinbase, opening a new venture for the exchange beyond being a marketplace for crypto. It has since become a fast-growing part of the company’s business, handling 55% more transactions in the third quarter than in the second.